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Foot Locker

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Foot Locker has outperformed the Zacks categorized industry in the past six months by a wide range. Sturdy comparable sales performance, cost containment efforts and strategic initiatives helped the company to post second straight quarter of positive earnings surprise, when it reported third-quarter fiscal 2016 results. The company also registered year-over-year growth in both the top and bottom lines. Management reaffirmed its projection of a mid-single-digit increase in comparable sales in fiscal 2016. Further, it continues to expect double-digit growth in earnings per share for the fiscal year. We believe that continuous exploitation of opportunities such as children’s business, shop-in-shop expansion, store business, store refurbishment and enhancement of assortments, will benefit the company in the long run. However, a competitive retail landscape, fashion obsolescence and foreign currency headwinds remain concerns.

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